Evergrande does not pay and Fitch downgrades it to “restricted default” By Investing.com

Evergrande does not pay and Fitch downgrades it to “restricted default” By Investing.com
Evergrande does not pay and Fitch downgrades it to “restricted default” By Investing.com

© Reuters.

By Alessandro Albano

Investing.com – Another blow for China Evergrande (HK :), which meanwhile gains 4.1% in Hong Kong. The rating agency Fitch announced earlier that it had downgraded the brick company, and its subsidiaries Hengda Real Estate Group and Tianjin Holdings (HK :), to “Restricted Default” from the previous “C”.

The downgrade, reads a note from Fitch, “reflects the non-payment of coupons maturing on November 6 in reference to the offshore bonds of $ 645 million at 13% of Tianji, and the bonds with a yield of 13.75% of 590 million. of dollars past due beyond the grace period of December 6th. “

Concerns about the possible collapse of Evergrande (HK

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